White House Steps Up Push to Toughen Rules on Banks

By

Carol E. Lee And

Damian Paletta

Updated May 16, 2012 11:33 p.m. ET

In the wake of losses at J.P. Morgan Chase & Co., the White House is seeking to ensure a tough interpretation of a regulation designed to prevent banks from making bets with their own money, according to people familiar with the matter.

White House officials have intensified their talks with the Treasury Department in the days since J.P. Morgan's losses came to light, these people say—representing the first tangible political...